Contents
RESIDENTIAL EDITION VOLUME 16 ISSUE 11 November 2009
28 | A Look at Tax-
Verification Reports
Verifying stated income through
IRS records often fights fraud
and fosters relationships
By Steve Grant,
Credit Plus Inc.
Tools and Tips
30 | 7 Ways to Immunize
Your Business
Foster business regardless
of economic whims
By Samuel N. Asare,
Laser Financial Group
17
32 | Use New Rules to Build Trust
Brokers who embrace and explain
regulatory changes can reap rewards
By Brian Brady,
World Wide Credit Corp.
17;|;LEAD;ARTICLE:;Making Sense of the New GFE
The new good-faith estimate and U.S. Department of Housing and Urban Development (HUD)-1
settlement statement will be required beginning Jan. 1. Still wondering how to complete certain
sections of the new forms or how to comply with regulatory details? Help is here.
By Joshua Weinberg, Calyx Software
34 | The Secret to Building
Business in a Downturn
Change your ways, change yourself —
and create value in the process
By Ken Taylor,
Ken Taylor & Associates Inc.
Departments
12 | From the Editor
The magical mystery tour of mortgage
legislation. Plus: Tip of the Month
14 | Q&A with Appraisal
Institute president
In July 2008, Jim Amorin told us
AMCs could hurt the industry.
What’s up now, post-HVCC?
Plus: Spotlight on Oklahoma City
Articles
20 | Appraising the
Valuation Process
Sure, you can’t order an appraisal for most
loans — but you can help clients prepare
By Brian C. Coester,
Coester Appraisal Group
23 | New-Look Origination
Charges Coming Soon
Different levels of tolerance will be
allowed under the new RESPA rule
By Richard Smith,
American Acceptance Mortgage Inc.
27 | NMLS: Plusses and Minuses
Benefits and drawbacks to
nationwide-licensing rules show
as renewal season begins
By Robin M. Gronsky,
Gronsky Law Office
36 | How to Grow Your Network
Asking clients for referrals is the first
step toward harvesting new business
By Rich Randall,
RichRandall.com
38 | Finding Opportunities
in Turmoil
The struggling economy offers chances
for brokers to impress other finance pros
By Bob Moran,
Franklin Webster Co.
40 | Don’t Neglect Clients’ Feelings
Follow these six steps to get to the heart
of the matter with loan prospects
By Dmitry Perlovich,
Dimper Funding Inc.
43 | Keep Marketing in
Tough Times
Brokers who develop online tactics and track
their success may continue to attract clients
By J.C. Kiadii,
MortgageOnlineMarketing.com
@scotsmang uide.com
What’s new online in November
» Trends
Small banks getting squeezed out
scotsmanguide.com/3814
» Legislation
Why new TILA proposal could be off-base
scotsmanguide.com/3816
» Compliance
The more forms the better, right? Right?
scotsmanguide.com/3815
» Getting Personal
Looking beyond mortgages
scotsmanguide.com/3817
» Stay up-to-date with
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Scotsman Guide Editorial Department:
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Dan Yeh/Mortgage Metrics:
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